Percentage Method of Withholding - Single Person Each weekly allowance is 63.46.
Weekly Taxable Wage
The amount of income tax to withhold is:
Over But not over
$ 51.00 $ 195,00
$ 0.00 plus (10% of the excess over $51.00)
195.00
645.00
14.40 plus (15% of the excess over 195.00)
645.00 1,482.00
81.90 plus (25% of the excess over 645.00)
Figure 2.1
Allowance Amount = Number of Allowances X $63.46
Taxable Wage = Gross Pay - Allowance Amount
Amount withheld for FIT = Use the Taxable Wage and the table below to compute.
Use the percentage method to calculate the (a) allowance amount,
(b) taxable wage, and (c) amount withheld for federal income tax.
13. Bob Mound, a theater director, 14. Charlene Kirkwood manages a
is single, earns $792.02 each
gift shop. She is single, earns
week, and claims 1 allowance. $1,243.49 each week, and claims
3 allowances.